KBC Group NV Acquires 4,197 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

KBC Group NV grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,115 shares of the financial services provider's stock after buying an additional 4,197 shares during the period. KBC Group NV owned 0.12% of Ameriprise Financial worth $53,143,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in Ameriprise Financial in the 2nd quarter worth about $26,000. Mascoma Wealth Management LLC grew its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock valued at $28,000 after buying an additional 40 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Ameriprise Financial during the second quarter valued at about $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Ameriprise Financial in the second quarter worth about $29,000. Institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on AMP. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $487.67.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $0.90 during trading hours on Friday, reaching $562.44. 702,573 shares of the stock traded hands, compared to its average volume of 470,965. The company's 50-day simple moving average is $493.91 and its two-hundred day simple moving average is $451.64. The company has a market capitalization of $54.57 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. Ameriprise Financial, Inc. has a 52-week low of $342.96 and a 52-week high of $569.47. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial's payout ratio is 22.73%.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Davies sold 8,700 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,415 shares of company stock valued at $15,829,445. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.